Jacko Leaves Pile of Debt

(NEWSER) - As recently as 2007, Michael Jackson had a net worth of $236.6 million, the AP reports. But his finances weren’t that simple. Most of his $567.6 million in assets were tied up in property and rights—he had just $668,215 in cash—and his debt totaled $331 million. His largest asset by far was his 50% stake in the Sony/ATV publishing catalog, which includes many Beatles songs and was valued at $390.6 million. More»

Two sedatives blamed for entertainer's demise

(NEWSER) - Confirming reports leaked Monday, the LA County coroner's office said today that Michael Jackson's death was a homicide. The ruling means someone else caused the death but does not assign blame or even necessarily mean a crime was committed, MSNBC reports. The official cause of death is "acute intoxication" with the powerful anesthetic propofol, which Jackson's personal physician, Conrad Murray, has acknowledged administering. The full autopsy report was not released. More»

(NEWSER) - The House of Representatives will not consider a resolution praising Michael Jackson’s humanitarianism, the Boston Globe reports. “A resolution, I think, would open up to contrary views to—that are not necessary at this time to be expressed in association with a resolution whose purpose is quite different,” Nancy Pelosi explained. Sponsor Sheila Jackson-Lee, who spoke warmly of MJ at his memorial, says she isn’t giving up. More»

He knew what he was doing—and we should follow his example

(NEWSER) - Michael Jackson wasn't known for his financial prudence, but he got one thing right: his estate planning, writes Jane Bennett Clark for Kiplinger. Here’s how to follow his good example:

• Write a will: Two-thirds of Americans don’t. Jackson’s is concrete: His kids get 40% of his estate, his mother gets 40%, and 20% goes to charity.

For Calif. community, King of Pop not bigger than Jesus, but 'about even'

(NEWSER) - A California family says Michael Jackson’s likeness appeared on a tree stump in their yard the day the pop singer died, CBS 13 reports. Some neighbors say the stump looks more like the Scarecrow from The Wizard of Oz, or like Jesus. One neighbor finds the latter comparison fitting: "Michael Jackson was an icon to us," the neighbor explained. "To Stockton, Michael Jackson meant more to us than Jesus, to some people. I think they're both about even." More»